Voice of People (VOP), another Singapore-based multi-level marketing company, which like Speak Asia promises a weekly income on filling survey forms, has started operations in India. The company is called 'Voice of People Media & Advertising Pvt Ltd' ...

HYDERABAD: The High Court on Tuesday dismissed a petition filed by SpeakAsia Online Private Ltd., Singapore, seeking a direction to the CID to quash the FIR registered against them. It also vacated the stay on the arrest of the directors, ...

A division bench of Justice Ranjana Desai and Justice Rajesh Ketkar was hearing public interest litigations against SpeakAsia and a similar Ponzi scheme floated by Rahul Patil of Symbiosis Group where "Rs 25-30 crore" were collected from investors. ...

MUMBAI: Soon after the five men arrested in the multi-croreSpeakAsia fraud were granted bail and released from the Arthur Road jail, a police team from Mira Road took them into custody. Now, police teams from across the country, including those from ...

MUMBAI: Soon after the five men arrested in the multi-crore SpeakAsia fraud were granted bail and released from the Arthur Road jail, a police team from Mira Road took them into custody. Now, police teams from across the country, including those from Pune, Delhi, Rajasthan, Haryana, Madhya Pradesh and Goa, have queued up to take them into custody for the fraud.

The five members of the Singapore-based company were first arrested by the Mumbai EOW. They are SpeakAsia COO (India head) Master mind of fraud Sir Tarak Bajpai (36), Rajeev Mehrotra, technical head for the portal, Shaikh Rais Latif (32), assistant for daily portal operations and in-charge of regular pop-ups, Ravi Janakraj Khanna (44), finance accountant and Deepankar Sarkar- an active promoter from Raipur. The company is believed to have duped investors of Rs 14,000 crore. It had 150 franchises across the country and 18 in Maharashtra. "At the time of the arrest of SpeakAsia officials in the last week of July, the company had over 20 lakh investors in the country. A red corner notice is likely to be issued against its senior officials soon," said a Mumbai police officer.

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Saturday, August 20, 2011

The Esplanade Court on Thursday granted bail to five of the six accused in the Speak Asia multi-level marketing scam. The Economic Offences Wing (EOW) of the Mumbai Police probing the business model of Speak Asia had arrested its Chief Operating Officer Tarak Bajpai (36), technical head for the portal Rajeev Mehrotra, assistant for daily portal operations and incharge of regular pop-ups Shaikh Rais Latif (32), finance accountant Ravi Jankraj Khanna and panelist Deepankar Sarkar on July 29. All of them were granted bail on Thursday against a surety of Rs 3 lakh each.

A conditional bail restricts the accused from leaving the country and every accused will have to visit the EOW office every Monday and Thursday until the investigation is concluded. The sixth accused in the scam, Rahul Shah, the Mumbai based vice-president of Speak Asia’s back office company Tulsiyant Enterprises, is still in the EOW’s custody.

The Esplanade Court on Thursday granted bail to five of the six accused in the Speak Asia multi-level marketing scam. The Economic Offences Wing (EOW) of the Mumbai Police probing the business model of Speak Asia had arrested its Chief Operating ...

According to the counsel appearing for the IT department, Jitendra Solanki, the investigations had revealed that Rs600 crore were sent to one Haren Ventures in Singapore. The court was also informed that the Rs134 crore in a bank account, which were to ...

HYDERABAD: Sleuths of the Crime Investigation Department (CID) probing the alleged fraud by SpeakAsia online survey company, said to be running a ponzi scheme, have learnt that huge amounts of money was diverted by this firm to the accounts of another ...

MUMBAI: The police on Monday received 100 more complaints against Singapore-based online consumer survey companySpeakAsia, accused of cheating investors of crores by promising them huge returns on their investments. Among the victims who recorded ...

The police on Monday received 100 more complaints against Singapore-based online consumer survey company SpeakAsia, accused of cheatinginvestors of crores by promising them huge returns on their investments. Among the victims who recorded their statements with the police was a 26-year-old MBA graduate, who had set up a SpeakAsia franchise and lost Rs 14 crore.

The economic offences wing (EOW) is questioning Bajpai (36) and his four colleagues-technical head for the portal Rajeev Mehrotra, assistant for daily portal operations and in-charge of regular pop-ups Shaikh Rais Latif (32), accountant Ravi Janakraj Khanna (44) and Deepankar Sarkar. The police said the fraud amount has crossed Rs 2,276 crore but by going the number of investors the amount duped is more than
could be more than Rs 14,000 crore. given the number of victims.

The company promised to give a return of Rs 52,000 on an investment of Rs 11,000 a year. There are more than 20 lakh investors across India who were known as Panelists. The company had 150 franchises across the country and 18 in Maharashtra. This firm had transferred crores of rupees to an account in United Bank of Singapore.